WorldStores, a leading UK-based online retailer of products for the home and garden, today announced that it has raised $15 million to support its continued rapid growth in an investment round led by Serena Capital.
The existing investors Balderton Capital and Advent Venture Partners also participated in this Series C funding round. The fresh capital will allow WorldStores to continue to invest in growing its supplier network and in the on-going expansion of its product range, which now exceeds over 500,000 lines.
WorldStores’ sales grew by 50% last year and the Twickenham-based company is targeting $115 million of sales in 2013, all in the UK. The breadth of choice offered by the company’s websites, combined with comfortable delivery options has enabled WorldStores to attract over 200,000 new customers in the last twelve months. With over 800 suppliers linked directly into the company’s technology platform, WorldStores is able to offer next-day or day-of-choice delivery on 80% of the goods it sells.
Richard Tucker, co-chief executive of WorldStores, stated: “We’re delighted that the backing of Serena Capital and our existing investors will enable WorldStores to continue to invest in the company’s exciting growth. This will allow us to extend our network of supplier relationships still further, and to offer an even greater choice to our consumers. We will continue to invest in the development of the business and our brand, now supported by TV advertising.”
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